i went High lift because imo there alot more versatile in where i can use it around the ute.The Exhaust jack you have to find a good surface under the car which can be difficult if your bogged well.also isnt many suitable spots underneath for the Exhaust jack without causeing damage in the best case senario.
Exhaust comes into its element in the sand especially because you dont sink as far generally but would struggle and be a PITA in the mud and of course as said above the is fairly bulky.
High lift is a much better all rounder imo as you can buy those base for them which allow them to be still very effective in sand,i got really stuck the other week in sand and used the top of my camp oven as a base and worked a treat.you HAVE to keep them cleanish though or the mechanizim can be a prick of a thing,nothing that a slight tap wont free though.
And yes it works as a winch,got my mate out of trouble once useing it as a winch,was our last resort.winch ran batt dead and we were alone,snatchy on 1 end to tree and winch cable on the other and we got it out,does take a few resets as it gain very little ground though as a last resort it works great.would work as a sepertator no prob though not often you would need that but thats why they are called farm jacks too.
You can lift them and then push of for new track though this is not good as it can bend the jack but more so can be dangerous.wouldnt do it at first but again with no other choice i have done it and it does work.
I like the High lift better but hell if you got the coin and can carry it why not have both,there will always be a situtation were one is better than the other